Ministry of Corporate Affairs (India)

Ministry of Corporate Affairs
	Emblem of India
Agency overview
Jurisdiction	Republic of India
Headquarters	Shastri Bhawan, New Delhi; 28°36′50″N 77°12′32″E / 28.61389°N 77.20889°E
Agency executives	Nirmala Sitharaman, Minister of Corporate Affairs; Anurag Thakur, Minister of State for Corporate Affairs;
Child agencies	Registrar of Companies ; Serious Fraud Investigation Office (SFIO); Indian Institute of Corporate Affairs (IICA); Competition Commission of India (CCI); National Company Law Tribunal (NCLT); National Company Law Appellate Tribunal (NCLAT);
Website	www.mca.gov.in

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The Ministry of Corporate Affairs is an Indian government ministry. It is primarily concerned with administration of the Companies Act 2013, the Companies Act 1947, the Limited Liability Partnership Act, 2008, Insolvency and Bankruptcy Code, 2016 & other allied Acts and rules & regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law.^[1] It is responsible mainly for regulation of Indian enterprises in Industrial and Services sector. Ministry is mostly served by the civil servants of the ICLS 0cadre. These officers are being selected through Civil Services Examination conducted by Union Public Service Commission. Brilliant talent pool of the country serves MCA in different capacities. The highest post, Director General of Corporate Affairs (DGCoA) is being fixed at Apex Scale for the ICLS. The current Minister of State for Corporate Affairs is Nirmala Sitaraman.

Administration[edit]

The ministry administers the following acts:

The Companies Act, 2013
The Companies Act, 1956
Insolvency And Bankruptcy Code, 2016
The Competition Act, 2002
The Monopolies and Restrictive Trade Practices Act, 1969
The Chartered Accountants Act, 1949 [As amended by the Chartered Accountants (Amendment) Act, 2006]
The Company Secretaries Act, 1980 [As amended by The Company Secretaries (Amendment) Act, 2006][1]
Cost and Works Accountants Act, 1959 [As Amended By The Cost And Works Accountants (Amendment) Act, 2006]
Companies (Donation to National) Fund Act, 1951
The Indian Partnership Act, 1932
Societies Registration Act, 1860
The Companies Amendment Act, 2006
The Limited liability Partnership Act, 2008

In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India.^[2] It replaces The Companies Act, 1956 which has proven outmoded in terms of handling 21st century problems.^[3]

The Ministry has constituted a Committee for framing of National Competition Policy (India) and related matters (formulate amendments in the Act) under the Chairmanship of Dhanendra Kumar, former Chairman of Competition Commission of India.^[4]^[5]

Autonomous Bodies[edit]

Statutory Bodies[edit]

Insolvency and Bankruptcy Board of India(IBBI)
National Company Law Tribunal(NCLT)
National Company Law Appellate Tribunal(NCLAT)
Investor Education and Protection Fund Authority(IEPFA)
National Financial Reporting Authority(NFRA)
Competition Commission of India(CCI)

Attached Offices[edit]

Serious Fraud Investigation Office(SFIO)

List of Ministers For Corporate Affairs[edit]

n	Name	Term of office		Political party (Alliance)	Prime Minister
1	Liaquat Ali Khan (Interim government)	29 October 1946	14 August 1947	All-India Muslim League	Jawaharlal Nehru(Vice President of the interim govt)
2	R. K. Shanmukham Chetty	15 August 1947	1949	Indian National Congress	Jawaharlal Nehru
3	John Mathai	1949	1950
4	C. D. Deshmukh	29 May 1950	1957
5	T. T. Krishnamachari	1957	13 February 1958
6	Jawaharlal Nehru	13 February 1958	13 March 1958
7	Morarji Desai	13 March 1958	29 August 1963
8	T. T. Krishnamachari	29 August 1963	1965		Jawaharlal Nehru Lal Bahadur Shastri
9	Sachindra Chaudhuri	1965	13 March 1967		Lal Bahadur Shastri Indira Gandhi
10	Indira Gandhi	1967	1971		Indira Gandhi
11	Yashwantrao Chavan	1971	1975
12	Chidambaram Subramaniam	1975	1977
13	Haribhai M. Patel	24 March 1977	24 January 1979	Janata Party	Morarji Desai
14	Charan Singh	24 January 1979	28 July 1979	Janata Party	Morarji Desai
15	Hemvati Nandan Bahuguna	28 July 1979	14 January 1980	Janata Party (Secular)	Charan Singh
16	R. Venkataraman	14 January 1980	15 January 1982	Indian National Congress	Indira Gandhi
17	Pranab Mukherjee	15 January 1982	31 December 1984		Indira Gandhi
18	V. P. Singh	31 December 1984	24 January 1987		Rajiv Gandhi
19	Rajiv Gandhi	24 January 1987	25 July 1987
20	N. D. Tiwari	25 July 1987	25 June 1988
21	Shankarrao Chavan	25 June 1988	2 December 1989
22	Madhu Dandavate	2 December 1989	10 November 1990	Janata Dal(National Front)	V. P. Singh
23	Yashwant Sinha	10 November 1990	21 June 1991	Samajwadi Janata Party(National Front)	Chandra Shekhar
24	Manmohan Singh	21 June 1991	16 May 1996	Indian National Congress	P. V. Narasimha Rao
25	Jaswant Singh	16 May 1996	1 June 1996	Bharatiya Janata Party	Atal Bihari Vajpayee
26	P. Chidambaram	1 June 1996	21 April 1997	Tamil Maanila Congress(United Front)	H. D. Deve Gowda
27	I.K. Gujral	21 April 1997	22 May 2004	Janata Dal(United Front)	I. K. Gujral
28	Prem Chand Gupta	22 May 2004	30 November 2008	Indian National Congress (United Progressive Alliance)	Manmohan Singh
29	H. R. Bhardwaj	30 November 2008	24 January 2009
30	Veerappa Moily	26 June 2012	31 July 2012
31	Sachin Pilot	31 July 2012	26 May 2014
32	Arun Jaitley	26 May 2014	14 May 2018	Bharatiya Janata Party(National Democratic Alliance)	Narendra Modi
33	Piyush Goyal	14 May 2018	23 August 2018
(32)	Arun Jaitley	23 August 2018	30 May 2019
34	Nirmala Sitharaman	30 May 2019	Incumbent

List of Ministers of State[edit]

Ministers of State For Corporate Affairs
Minister of state	Political party	Term		Days
Nirmala Sitharaman	Bharatiya Janata Party	26 May 2014	9 November 2014	167 days
Arjun Ram Meghwal		5 July 2016	3 September 2017	425 days
P. P. Chaudhary		3 September 2017	30 May 2019	634 days
Anurag Thakur		30 May 2019	Incumbent	1723 days

References[edit]

↑ http://www.mca.gov.in/MinistryV2/about_mca.html
↑ Jen Swanson (15 August 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud" ("Dealbook" blog). The New York Times. Retrieved 16 August 2013.
↑ "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 August 2013. Retrieved 16 August 2013.
↑ "MCA draft - Ministry Of Corporate Affairs".
↑ "Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".

External links[edit]

www.mca.gov.in

This article about government in India is a stub. You can help Bharatpedia by expanding it.

[1] ttp://www.mca.gov.in/MinistryV2/about_mca.html

[NYT81513-2] Jen Swanson (15 August 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud" ("Dealbook" blog). The New York Times. Retrieved 16 August 2013.

[ANI8813-3] "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 August 2013. Retrieved 16 August 2013.

[4] "MCA draft - Ministry Of Corporate Affairs".

[5] "Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".

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